VZ Reports Q3 2025 Adjusted EPS of $1.21, Exceeding Analyst Estimates

Verizon (VZ.US) reported strong third-quarter 2025 results, with adjusted Earnings Per Share (EPS) reaching $1.21, surpassing the analyst estimate of $1.19. This represents an increase of 1.7% compared to the adjusted EPS of $1.19 in the third quarter of 2024. Total operating revenue for the quarter was $33.8 billion, marking a 1.5% year-over-year increase, though it fell short of the analyst estimate of $34.19 billion.

Strong Segment Performance

Verizon Consumer revenue increased by 2.9% year-over-year to $26.1 billion in the third quarter of 2025, driven by a 2.4% rise in wireless service revenue. The Consumer segment's EBITDA grew by 2.0% year-over-year to $11.2 billion, reflecting improvements in wireless service revenue.

In contrast, Verizon Business revenue decreased by 2.8% year-over-year to $7.1 billion. Despite this, Business segment EBITDA saw a 4.2% increase year-over-year, reaching $1.7 billion, and operating income increased by 12.7%.

Key Operational Highlights

Broadband net additions were strong, totaling 306,000 in Q3 2025, including 261,000 fixed wireless access net additions. Fios internet also performed well, adding 61,000 net additions, its best quarterly result in two years. Overall broadband connections expanded by 11.1% year-over-year to more than 13.2 million.

The company also grew wireless service revenue to $21.0 billion, a 2.1% increase, and wireless equipment revenue increased by 5.2% to $5.6 billion. Over 18% of the company's Consumer postpaid phone customers now utilize a converged offering, and the dividend was raised for the 19th consecutive year.

Management Outlook

Verizon reiterated its full-year financial guidance, projecting total wireless service revenue growth of 2.0% to 2.8% and adjusted EBITDA growth of 2.5% to 3.5%. Adjusted EPS growth is anticipated to be between 1.0% and 3.0%. The company also expects cash flow from operations to be in the range of $37.0 billion to $39.0 billion, and free cash flow to be between $19.5 billion and $20.5 billion.

Management stated its commitment to a customer-first culture and aggressive transformation of its cost structure and financial profile to deliver sustainable returns for shareholders. Capital expenditures for 2025 are expected to be within or below the guided range of $17.5 billion to $18.5 billion.